Walt Disney Company has announced that it has acquired more than 50 percent stake of UTV Software Communications.

According to the sources, the company has become the majority shareholder of UTV Software Communications by acquiring more than 50 percent stake in it.

The sources further revealed that Walt Disney recently purchased about 20 percent of UTV shares from the open market and raised its ownership in the company to more than 50 percent.

This made Walt Disney the first Hollywood studio to have majority share in an Indian entertainment conglomerate.

According to the company officials, the shareholding of UTV and Walt Disney in UTV Software communications has increased to 83.25 %

In February, Walt Disney had pumped $190 million in UTV Software and enhanced its stake from 14.85 percent to 37.29 percent.

According to UTV sources, though Walt Disney is now a majority partner of UTV Software Communications, its equation in the conglomerate will remain unchanged.

As per an agreement, Walt Disney will not claim more than three seats it already has on the UTV Software 12-member board. Also, it will not use its voting rights till 2012.